Episode Details

21st Feb : Crypto & Coffee at 8

🟢 Ethereum 🚀 Turkey’s 1st Phase of CBDC 🚨 Hong Kong regulators on Tokenization ❌ Binance shuts down multiple leveraged token services❗

🟢 Ethereum ( First World Computer)

#ETH touches $3K & is outpacing other cryptocurrencies, according to data from CoinMarketCap Spot Ethreum Approval from the US Security and Exchange Commission could enhance Ethereum’s attractiveness to conservative institutional investors.

❗ Digital Turkish lira — First Phase

- The Central Bank of the Republic of Turkey (CBRT) recently unveiled an English translation of its report evaluating the initial stage of its Central Bank Digital Turkish Lira Research and Development (R&D) Project, aimed at crafting a central bank digital currency (CBDC). Originally published in Turkish last year, the translated report was released on Feb. 19.

The digital Turkish lira was designed as an intermediated retail CBDC. Full report here http://tinyurl.com/mk2wf7ff

❗ This inaugural phase of the project focused on several key components, including the digital identity system, digital currency system, abstraction layer, service layer, and wallet. Notably, the abstraction layer was designed to facilitate system modularity. Commencing in 2021, the first phase of the project saw the CBRT conducting its initial trial transactions with the digital Turkish lira in 2022.

🔥 The Hong Kong Monetary Authority (HKMA) issued letters to authorized institutions regarding tokenization and custody of digital assets.

In one letter, the HKMA outlined standards for custody of customer assets, aligning with international practices, applicable regardless of whether AIs offer standalone services or engage in other activities.

♦️ The second letter addressed the sale and distribution of tokenized products not regulated under the Securities and Futures Ordinance, emphasizing compliance outside the Securities and Futures Commission’s requirements.

♦️ Overall, the letters aim to provide guidance on managing digital asset custody and tokenized product offerings within Hong Kong’s regulatory framework.

♦️ The HKMA is supportive of AIs’ initiatives on tokenisation and is encouraged by the progress the industry has made so far.

❗Letters here http://tinyurl.com/yehjkuay

🚨 Binance announced the decision to end support for leveraged tokens paired with Tether on Feb. 19. The leveraged tokens affected include BTCUP and BTCDOWN, ETHUP and ETHDOWN, and BNBUP and BNBDOWN. As Binance conducts regular reviews of its product offerings to focus on products that can provide users with the most value and competitive services, Binance will cease support for Binance Leveraged Tokens (BLVT) Official info here http://tinyurl.com/3kj4fcxz

🟠 Two UAE news (See slides)

⚡ Metaverse: The Hype, Reality & New World Order by Blockchain DXB 15th March

⚡ PESTLER analysis on Bitcoin on 15th March (Political, Economical, Social, Technological, Legal Environmental, Religious )

For slides click here: http://tinyurl.com/3kmhcrfz

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